Singapore-based solar solutions provider Maxeon Solar Technologies and its subsidiary, Maxeon Solar, have submitted an application to the Singapore High Court seeking judicial management, citing financial distress stemming from changes in U.S. policies.

Following the filing of the judicial management applications, an automatic statutory moratorium has been imposed from the date of filing until the determination of the applications.

During the period, no step may be taken to enforce any security over any property of Maxeon or its subsidiary, nor may any other legal proceedings be commenced or continued against them.

The applications are yet to be heard.

Judicial management under Singapore law is a court‑ordered corporate restructuring process that aims to provide a company with breathing space to restructure and rehabilitate its business and/or to achieve a better realization of its assets than would be possible in a liquidation.

The judicial manager will take into custody or control all of Maxeon’s property and have the power to sell or otherwise dispose of it.

In the second half of fiscal year 2024, Maxeon Solar Technologies announced significant restrictions on its business, including the divestment of certain of its subsidiaries and the sale of its distributed generation business outside the U.S.

Maxeon said that the funds received from these restructuring transactions were used to settle trade payables that had come due, as well as for taxes and other operating expenses.

The restructuring transactions were used to cover costs related to a third-party module purchasing agreement for modules assembled in the U.S., restructuring costs, including severance expenses, and interest payments on its outstanding debt.

However, the company said that Customs & Border Protection’s (CBP) continued denial of entry of certain shipments of Maxeon’s products into the U.S. negatively impacted its ability to generate cash flow from the sale of such products and fulfill certain contractual commitments.

Maxeon also added that, as a result, many of its customers have commenced legal action against it, alleging breach of contract and seeking damages exceeding $70 million.

The company is also contesting CBP’s decision at the U.S. Court of International Trade; however, it does not expect an immediate relief.

It added that the development of its Maxeon 8 technology has suffered setbacks, including an unsuccessful collaboration arrangement under the amended bilateral development services agreement with Zhonghuan Hong Kong, Lumetech, and SunPower Philippines Manufacturing, which has necessitated self-funding of any further research and development capital expenditures.

Maxeon said that it has also been in negotiations with potential investors and financing providers to explore debt and/ or equity financing to address its liquidity issues or to take advantage of tax and other incentives in the U.S. However, the company said that these discussions remain in early stages.

Last year, Maxeon expanded its patent infringement actions against Aiko Solar by filing a new lawsuit before the Munich Regional Court I in Germany, alleging infringement of its core back-contact solar technology.

In January 2026, the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office invalidated claims of patent infringement by Maxeon Solar Technologies against renewable energy solutions company Canadian Solar.